UPDATE 1-Mitsubishi Motors maps out mid-term growth plan

Newswire

(Adds details) TOKYO, Feb 29 (Reuters) - Mitsubishi Motors Corp said on Friday it would focus on promising new car markets to secure medium-term growth, announcing a target of boosting net profit by 2-½ times in three years. Under its new business plan, the struggling Japanese automaker said it would target net profit of 50 billion yen ($480 million) in the year ending March 2011, up from the 20 billion yen it has forecast for this year. "We need to pick our battles in order to achieve ...

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